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Our Financial Picture
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2009 Annual Report - National Slovak Society
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| Net Admitted
Assets |
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December
2009 |
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December
2008
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Bonds |
$344,107,962 |
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$251,634,191
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Preferred Stocks |
3,798,101 |
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4,419,821
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Common Stocks |
1,706,378 |
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980,769
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Mortgages On Real
Estate |
3,885,839
|
|
4,126,330
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Real Estate
Occupied
By Society |
939,076 |
|
968,325
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Certificate
Loans |
239,500 |
|
182,231
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Cash On
Deposit |
11,724,682 |
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4,502,730
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Computer
Equipment |
15,426 |
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30,852
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Deferred
Premiums |
52,266 |
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40,319
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Investment
Income |
3,814,112 |
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2,990,403
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Totals |
$370,283,342 |
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$269,875,971
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Liabilities &
Unassigned Surplus
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December
2009
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December 2008
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Aggregate Reserves |
$344,507,707 |
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$250,384,990
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Certificate
Claims |
200,000 |
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190,000
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Deposit-Type
Contracts |
11,093,579 |
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6,995,181
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Refunds
Due/Unpaid |
175,000 |
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165,000
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General Expenses
Due |
1,034,850 |
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924,100
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Retained By
Society As Trustee |
742,940 |
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604,859
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Commissions
Due |
97,200 |
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50,000
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Asset Valuation
Reserve |
489,700 |
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131,600
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Interest
Maintenance Reserve |
3,243,644 |
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3,269,740
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Contingency
Reserve |
150,000 |
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150,000
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Unassigned
Funds |
8,548,722 |
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7,010,501
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Totals |
$370,283,342 |
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$269,875,971
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| Summary Of
Operations |
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December 2009
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December
2008
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Life Premium &
Annuity Income |
$111,816,153 |
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$47,061,892
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Net Investment
Income |
17,852,003 |
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14,814,890
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Amortization Of
Interest Maintenance Reserve |
130,194 |
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163,909
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Income Sub-Total |
$129,798,350 |
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$62,040,691
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Death
Benefits |
1,008,063 |
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$1,151,127
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Matured
Endowments |
9,737 |
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33,964
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Annuity
Benefits |
26,359,902 |
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24,404,182
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Disability/Health
Benefits |
1,657 |
|
632
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Surrender
Benefits |
201,628
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185,803
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Certificate
Interest |
10,451 |
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30,160 |
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Increase In
Aggregate Life Reserves |
94,122,717 |
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30,615,890
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Commissions |
3,055,686 |
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1,433,300
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General
Expenses |
2,837,912 |
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2,385,363
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Insurance,
Taxes, Fees |
96,149 |
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79,032
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Expense
Sub-Total |
$127,703,902 |
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$60,319,453
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Net Gain From
Operations Before Refunds To Members |
$2,094,448 |
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$1,721,238
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Refunds To
Members |
(177,512) |
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(175,714)
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Net Gain After
Refunds To Members |
1,916,936 |
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1,545,524
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Net Realized
Capital Gain |
(316,033) |
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(1,054,572
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Total
Net Income |
$1,600,903 |
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$490,952
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| Surplus
Account |
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December
2009
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December 2008
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Beginning Surplus
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$7,160,501
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$6,903,345
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Net Income From
Operations |
1,600,903
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|
490,952
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Change in Net
Realized Capital Gains or (Losses)
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416,129
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(745,277)
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| Change in NonAdmitted Assets
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(120,711) |
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(614,141) |
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Change In Asset
Valuation Reserve |
(358,100)
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1,093,520
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Aggregate Write-ins for Gains and Losses in Surplus |
0 |
|
32,102 |
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Net Change In
Surplus |
1,538,221
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|
257,156
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Surplus At Year
End |
$8,698,722
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$7,160,501
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Submitted by Linda M. Strom
National
Secretary/Treasurer
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